Xavier Rolet replaces Clara Furse in May
The new Chief Executive of the London Stock Exchange (LSE), Xavier Rolet, can’t be said not to have a hinterland.
He is a car lover — he recently took part in the Dakar Rally — a competent skier, scuba-diver and fly-fisherman. He is said to keep bees, studies architecture and has rebuilt a vineyard in France.
A further string to his bow involves part-authoring the Galileo Report on the European programme to create a satellite system that improves on GPS. He easily slots into the category labelled, Renaissance Man.
He takes over the reins of the LSE in May, although already sits on the Board. It will be challenging. The LSE has already lost up to 25pc of its business to new arrivals on the scene under European legislation.
Rolet declares, “The stress in the financial system is naturally going to lead to a more global, financial system with truly international governance. As a major part of the infrastructure, exchanges are going to play a big role in this. We have a responsibility to provide issuers and investors with liquidity in the best, fastest and most reliable way.
“We will review our fee structure, costs and our technology and ensure that we are prepared for the new global financial economy. Clients want simpler infrastructure — much of the new diversity among the competitors has just brought chaos and more costs. We don’t mind the competition. We have one big advantage: London which is a natural centre of finance. This is a strong brand.”
He will need all his resourcefulness and energy to make his mark in the present financial jungle.
They are big shoes to fill, but in choosing Frenchman Xavier Rolet, the London Stock Exchange has picked someone they know, who advised them on how best to defend the exchange against predators.